360 Financial Report Announced: A huge loss of 2.204 billion yuan in 2022, business transformation faces challenges

News on May 17th, 360 has frequently become the focus of attention recently. According to ITBEAR technology information, on May 16, 360 and Zhipu AI announced a strategic cooperation. The two parties will jointly develop a 100-billion-level large-scale model "360GLM". This model is regarded as an important part of the new generation of cognitive intelligence general model. breakthrough.

Zhou Hongyi proposed the establishment of an industry-research collaborative innovation model for large-scale technology companies and key scientific research institutions to create China's "Microsoft OpenAI" portfolio and lead large-model technology research. He said that this cooperation with Zhipu AI draws on this collaborative relationship between industry and research.

Regarding this cooperation, Zhang Peng, CEO of Zhipu AI, said that Zhipu AI has always adhered to the vision of making machines think like humans and is committed to realizing Model as a The concept of Service (MaaS).

It is still difficult to determine whether Zhou Hongyi's "Microsoft Dream" can be realized and who can become China's next OpenAI. Although 360 has made some progress in its exploration and cooperation in the field of large-scale models, it will take time to verify its results and applications.

It is worth noting that 360 has encountered a series of challenges and controversies recently. At the beginning of the year, 360 participated in AIGC (Artificial Intelligence Generated The market value has soared due to the craze of Content), but what followed was that major shareholders cashed out one after another, with the cumulative cash-out amount reaching 1 billion yuan. In addition, the divorce case of 360 founder Zhou Hongyi has once again put him in the storm of public opinion, and there are endless market speculations that he is suspected of cashing out in disguised form.

Recently 360 released a financial report, but considering the background of a series of turbulence, the results did not meet people’s expectations. The 2022 report pointed out that 360 faced a major loss of 2.204 billion yuan, and its revenue fell by 12.54%. The losses were mainly due to impairments in the investment business and the continued decline in advertising revenue from the main business. Both the network security business and the large-scale applications of 360 need to be further developed and require a longer period of advancement to realize their potential.

Facing a period of business transformation, 360 once again fell into a wavering situation.

First of all, the core revenue pillar-the advertising business continues to decline. Since 2019, 360's revenue has declined for four consecutive years. Revenue in 2022 will be 9.521 billion yuan, a decrease of 12.54% from the same period last year. Although the advertising business has always been the main source of revenue for 360, its revenue still fell by 25.32% in 2022. China's Internet advertising business as a whole is under pressure, with full-year revenue falling by 6.38% year-on-year.

For 360, the strengthening of supervision on Internet advertising is a major challenge. In addition, 360's browser products have been criticized for false advertising and security issues, further reducing the scale of advertising revenue. However, advertising business is still the main source of 360’s total revenue, accounting for 49.47%.

In addition, 360’s network security business contributed 18.81% of revenue in 2022, reaching 1.791 billion yuan, a year-on-year increase of 29.72%. However, the position and influence of the cybersecurity business in the market remains unclear.

In the fields of network security and AIGC, 360 faces fierce competition. Although 360's network security business has grown, in the field of network security, competitors such as Qi'anxin have performed better, and 360 still faces challenges. In the field of AIGC, 360 is not the first company to start its layout, and it faces considerable competitive pressure.

Although 360 has made some breakthroughs in the field of AIGC, its large model has not yet been applied in practice, its main business faces challenges, and its financial reports suffer serious losses. Therefore, 360 urgently needs to find breakthrough points in new business areas and speed up the application of large-scale models. This is an important turning point for 360.

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